Chennai: The Tamil Nadu state government will be introducing a Property Tax Board. The decision has been made as the Tamil Nadu state property tax bill has been passed in the Assembly on the last day of the budget session. The bill is among 11 other bills that have been approved in the current Assembly session.The board will complement the functions of the local urban bodies and not harm their functions in the least. In other words the board’s role will be chiefly advisory. It will not meddle with the decisions taken by the urban local bodies (ULB) but its function will include several tasks such as comparative analysis of property tax rates collected across different urban local bodies. The board would suggest basis for valuation of properties; review property tax assessment; recommend means for periodic revision of property tax and make principles to govern the property tax valuation. The property tax board will be headed by a Secretary-level officer. The board will also consist of Commissioner of Chennai Corporation, Commissioner of Municipal Administration and Director of Town Panchayats. Three experts will also be nominated by the government to be included in the board who are specialized in such fields as taxation or property evaluation for fixing tax rates.The decision to form a State-level Property Tax Board has been taken following the recommendation of the 13th Finance Commission. The formation of the board has been one of the pre-conditions to receive the performance grant that is given by the Finance Commission to the local bodies. The board’s job is also to provide assistance to the ULBs for the proper revision and assessment of property taxation.Besides Tamil Nadu, Andhra Pradesh already has such a board in place. It is a concept which is gaining momentum in spite of being quite new.займ на карту без отказов круглосуточновзять кредит онлайн